Press Releases
Key Developments in the Balance of Payments of the State of Kuwait for the Year 2022
The Central Bank of Kuwait (CBK) published today the preliminary data of the State of Kuwait’s Balance of Payments (BOP) for 2022, and the revised data of 2021. The preliminary data of the Balance of Payments revealed a surplus during 2022 of KD 19,329.3 million in the Current Account (that sums up receipts and payments on transactions between the domestic economy and other economies in terms of goods, services and income) against a surplus of KD 10,537.0 million during the previous year, i.e. a rise by KD 8,792.3 million or 83.4%. This upturn is mainly attributable to the noticeable improvement in the Balance on Goods, as the preliminary data indicated a rise in the surplus of the Balance on Goods by KD 9,805.7 million or 80.2% to reach KD 22,034.2 million during 2022, against KD 12,228.5 million during the previous year. This increase is driven mainly by the rise in the merchandise exports by KD 10,085.7 million or 48.9% compared with the previous year, as a result of the improvement in the performance of the global economy for the second consecutive year, after Covid-19 pandemic.
